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Canadian firm signs BCL MoU

MBONGENI MGUNI
Better days: At its closure, BCL Mine employed 4,300 workers FILE PIC
Premium Nickel Resources (PNR), the Canadian firm recently appointed the preferred bidder for BCL Mine, has signed a Memorandum of Understanding with the mine's liquidator that governs the six month due diligence period.

In a statement to investors on Wednesday, PNR CEO, Keith Morrison said besides various studies to be conducted as part of the due diligence, the firm would also negotiate definitive agreements to finalise terms on the prioritised assets to be purchased. 

He said PNR’s goal was to show the potential economics of redeveloping BCL assets to produce nickel, copper and cobalt in an environmentally sound manner with appropriate social and corporate governance responsibilities.

Morrison said to achieve this, extensive

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upgrades to infrastructure would be required with an emphasis on safety, sustainability and the application of new technologies to minimise the environment impact and total carbon footprint for the new operations. 

BCL Mine and Tati Nickel in Francistown, were closed in October 2016 as government deemed them too costly to operate given the prevailing base metal prices.

PNR has said its eyes are on reviving BCL Mine with an eye on the electric vehicle component market.



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